|Bid||0.00 x 2200|
|Ask||0.00 x 900|
|Day's Range||10.80 - 11.21|
|52 Week Range||7.77 - 20.87|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Moody's Investors Service ("Moody's") downgraded Ensco plc's (Ensco) Corporate Family Rating (CFR) to B3 from B2, Probability of Default Rating (PDR) to B3-PD from B2-PD, senior unsecured notes to Caa1 from B3, and Speculative Grade Liquidity Rating to SGL-2 from SGL-1. Ensco's NP commercial paper rating was confirmed.
More than four months after originally announcing their plans to merge, offshore drilling contractors Ensco plc and Rowan Companies plc Rowan Companies plc have been given the final green light.
Rowan (RDC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
One sector of the market that has looked consistently cheap for the last five years is the offshore oil and gas drilling industry. Warning! GuruFocus has detected 2 Warning Signs with RIG. The three most significant players in this market are Transocean Ltd. (RIG), Rowan Companies PLC (RDC) and Diamond Offshore Drilling Inc. (DO).
Energy Sector: Key Highlights Last Week(Continued from Prior Part)Energy stocksOn January 25–February 1, oilfield services stock Diamond Offshore Drilling (DO) fell the most among our set of selected energy stocks, which include the following
Rowan (RDC) shareholders will receive 2.750 shares of Ensco for each share of Rowan, up about 24.2% from the initial exchange ratio of 2.215.
London-based Ensco PLC (NYSE: ESV) and Houston’s Rowan Companies PLC (NYSE: RDC) have reached an agreement updating the terms of a previously announced multibillion-dollar acquisition. Now, Rowan shareholders will receive 2.75 Ensco shares for each Rowan share that they own, the companies announced in Jan. 29 press releases. The new exchange ratio is also higher than Ensco’s recent offer of 2.6 Ensco shares per Rowan share, which was the highest Ensco said it was prepared to offer on Jan. 14.
Your Energy Review for the Week Ended January 25(Continued from Prior Part)Energy stocks Between January 18 and January 25, oilfield services stock Weatherford International (WFT) rose the most among the energy stocks under review in this series,
Both companies had already scheduled special meetings on Jan. 23 for shareholders to vote on the proposed deal, but they adjourned those meetings without voting in light of an updated offer proposed on Jan. 14.
Your Energy Review for the Week Ended January 18(Continued from Prior Part)Energy stocks Between January 11 and January 18, oilfield services stock Rowan Companies (RDC) rose the most among the energy stocks under review in this series, which
Royal Dutch Shell (RDS.A) started up its fourth linear alpha olefins unit at its Geismar chemicals plant, while SemGroup (SEMG) and KKR teamed up for a Canadian midstream infrastructure platform.
Rowan (RDC) shareholders would receive 2.60 shares of Ensco for each share of Rowan, up about 17.4% compared to the 2.215 exchange ratio under the agreement entered into on Oct 7, 2018.
Rowan's (RDC) jack-up rig -- Rowan Norway -- has been contracted for an estimated duration of seven months by ConocoPhillips.
Rowan's (RDC) merger deal with Ensco is opposed by Canyon as it can lead to deterioration of Rowan's operational and financial profile.
Hedge fund Canyon Capital Advisors has warned it would vote against the $2.38 billion sale of offshore driller Rowan Companies Plc to rival Ensco Plc, casting doubt on a combination that had signaled optimism about the future of offshore exploration. Canyon holds a 6.3 percent stake in Houston-based Rowan, valued at more than $80 million, making it one of Rowan's largest shareholders. Shares of Rowan were up 7.8 percent at $10.24 in mid-day trading, while shares of Ensco were up 7 percent at $4.48.